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IFLA 2018 JHARKHAND

INTRODUCTION

In the last few years, the number of start-ups in India has surged. Today, India has more significant start-ups than ever before - home to 10 unicorns. In terms of the ‘number of firms’, India is the third-largest start up ecosystem in the world. Studies indicate that the country’s rapidly growing startup ecosystem could produce at least 50 more in the near future.

India’s new age start-ups are solving big problems for Indians in India. Some of them might even go on to set the bar for the rest of the world in innovation, but achieving the initial goal of start-ups – scaling up and growing quickly across borders is far from plain sailing. IFLA intends to bridge that gap.

IFLA competition is being positioned as a "Battle of Original Start-ups" with an objective to open up beyond campuses, students & businesses and provide showcasing and mentorship opportunities to the young, future leaders and entrepreneurs who have brilliant and original ideas on their mind and the passion to transform these ideas into business models.

IFLA, in its current avatar, has been an annual program at INFOCOM Kolkata for the past two years. This year we are expanding our horizon and opening our doors to start-ups from other major cities in eastern India – to give “original business ideas” a much bigger platform to showcase and grow into a success story for digital India.

The Event: An Original Business Ideas competition.

Categories: Original start-up idea and Original start-up business. The Original start-up idea has two sub categories namely General and Student.

THE PROCESS

Category 1: Original start-up idea

a. Sub Category General

Register @ www.indiainfocom.com.

Individuals/Teams will submit their ideas and business plans online.

Initial Screening and shortlisting of ideas will be done from total entries received. Top 3 will be shortlisted.

These top 3 will get an opportunity to showcase and present their business ideas at INFOCOM Momentum Jharkhand on March 17, 2018.

Total time of 5mins (3mins pitch + 2mins QA) will be given to each Individuals/Team to present their ideas in front of the Grand Jury and the audience.

At INFOCOM Momentum Jharkhand, The Grand Jury will evaluate the top 3 pitches on stage.

Out of these 3 finalists, 1 winner will be selected on the basis of Grand Jury scores who will be given the prize money.

b. Sub Category Student

Register @ www.indiainfocom.com.

Individuals/Teams will submit their ideas and business plan online.

Initial Screening and shortlisting of ideas will be done and Top 10 will be shortlisted and put up for online voting at the www.mevero.com. 30% weightage to be given for online votes and 70% weightage on Jury evaluation to determine the final scores.

Out of the Top 10, top 3 will get an opportunity to showcase and present their business ideas at INFOCOM Momentum Jharkhand on March 17, 2018.

Total time of 5mins (3mins pitch + 2mins QA) will be given to each Individuals/Team to present their ideas in a closed track.

Out of these 3 finalists, 1 winner will be selected on the basis of Grand Jury scores who will be given the prize money.

Category 2. Original start-up business

Register @ www.indiainfocom.com.

Individuals/Teams will submit their ideas and business plans online.

Initial Screening and shortlisting of ideas will be done from total entries received. Top 3 will be shortlisted.

These top 3 will get an opportunity to showcase and present their business ideas at INFOCOM Momentum Jharkhand on March 17, 2018.

Total time of 10mins (5mins pitch + 5mins QA) will be given to each Individuals/Team to present their ideas in front of the Grand Jury and the audience.

In this category businesses will have an option to split their pitch in two parts - video and presentation.

At INFOCOM Momentum Jharkhand, The Grand Jury will evaluate the top 3 pitches on stage. Out of these 3 finalists, 1 winner will be selected on the basis of Grand Jury scores who will be given the prize money.

Eligibility Criteria

For Sub Category General

Participants should be above 18 years of age as on January 1, 2018

Individual/Team of 2-3 members needs to be formed.

Participants should be Indian citizens.

Ideas submitted should not have received any external funding at the time of submission, irrespective of stage of execution.

Only one submission will be accepted per individual/team in the General Category.

There is no entry fee.

For Sub Category Student

Participants applying in student category should be currently a student of any government /private institute.

The participants should be above 18 years of age as on January 1, 2018.

Individual/Team of 2-3 members needs to be formed. All team members should be from same college/institute.

Participant should be Indian citizens.

Ideas submitted should not have received any external funding at the time of submission,irrespective of stage of execution.

Only one submission will be accepted per student/team in the Student category.

There is no entry fee.

For Category. Original start-up business

Participants should be above 18 years of age as on January 1, 2018

Participants should be Indian citizens.

Individual/Team of 2-3 members needs to be formed.

Should possess a business entity.

Ideas submitted should not have received any external funding at the time of submission, Irrespective of stage of execution.

Only one submission will be accepted per individual/team in this category.

There is no entry fee.

Proposed Evaluation Parameters to be kept in mind while showcasing Original Business Idea:

Originality – 40% weightage

Sustainability – 30% weightage

Potential Impact – 30% weightage

THE PRIZES

Category 1. Original start-up idea

a. Sub Category Student

There will be Two winners, One winner will represent the state of Jharkhand and the other winner will be selected from either of the three states of Bihar, Odisha or West Bengal.

Prize Money: Two winners will get a trophy and prize money of Rs. 50,000/- each.

All 3 finalists will get the IFLA Certificate.

b. Sub Category General

There will be Two winners, One winner will represent the state of Jharkhand and the other winner will be selected from either of the three states of Bihar, Odisha or West Bengal.

Prize Money: Winner will get a trophy and a prize money of Rs. 75,000/- ech.

All 3 finalists will get the IFLA Certificate.

Category 2. Original start-up business

There will be Two winners, One winner will represent the state of Jharkhand and the other winner will be selected from either of the three states of Bihar, Odisha or West Bengal.

Prize Money: Winner will get a trophy and a prize money of Rs. 1,00,000/-